Hasten Biopharmaceutic, a Chinese pharmaceutical company, has raised $315M in a funding round co-led by Mubadala Investment Company and CBC Group, the largest healthcare investment firm in Asia. The company plans to use the funds for acquisitions and to develop innovative pipeline assets.
The statement did not disclose the identities of other institutional investors who participated in the fundraising. This round of funding comes after Hasten acquired exclusive rights to five cardiovascular and metabolism drugs in China from Takeda Pharmaceutical Company in 2022. Hasten was established and jointly invested in by CBC, Hefei Industry Investment Group, and Feidong County in 2020, according to Reuters.
“The proceeds raised will catalyse our growth and expansion plans to become China’s leading healthcare company in chronic and age-related diseases, and acute and severe diseases,” CEO Summer Xia said in the statement.
Headquartered in Singapore, CBC’s focus ranges from pharmaceuticals to biotech and it currently has over $7B in assets under management, the statement said.
